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New Legislation Guarantees Wages for Workers Even if Construction Companies Go Bankrupt

New Legislation Guarantees Wages for Workers Even if Construction Companies Go Bankrupt

SEJONG, May 18 (Korea Bizwire) — Starting next year, workers’ wages are expected to be secured safely even if construction companies participating in public works fail and bank accounts are seized. Government ministries, including the Ministry of Land, Infrastructure and Transport and the Public Procurement Service, announced measures on Friday to improve the direct wage [...]

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

Builders Turn to High-tech Solutions as Coronavirus Fears Weigh on Housing Market

SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]

S. Korean Builders Likely to Miss Overseas Order Targets This Year

S. Korean Builders Likely to Miss Overseas Order Targets This Year

SEOUL, Nov. 3 (Korea Bizwire) — South Korean builders are likely to fall short of their annual overseas order targets this year, analysts said Sunday, amid concerns over a slowdown in the global economy sparked by the U.S.-China trade dispute. As of the end of October, South Korean construction companies amassed $17.68 billion worth of [...]

S. Korean Builders Striving to Meet Overseas Order Targets

S. Korean Builders Striving to Meet Overseas Order Targets

SEOUL, Jun. 26 (Korea Bizwire) — South Korean construction companies are striving to meet their annual overseas order targets amid concerns over a slowdown in the global economy, industry insiders said Wednesday, as they hope to feed off massive plant orders from the Middle East, their traditional cash cow, with oil prices staying high. Also, [...]